A Purely competitive firm's supply schedule in the short run is determined by:

CA Foundation · Business Economics · MTP · September 2026
A Purely competitive firm's supply schedule in the short run is determined by:
(A) A. Its average revenue
(B) B. Its marginal revenue
(C) C. Its marginal cost curve
(D) D. Marginal Utility for money curve

Suggested Answer and Working Notes:

Correct Answer: Option (C)

C. Its marginal cost curve

Topics: Price Determination in Different Markets

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